Friday, November 20, 2009

Neighbors Upset About HSBC Closing

I found the following article from today's Buffalo News to be interesting. An HSBC bank on Fillmore and Glenwood has decided to close. HSBC officials say it is simply a business decision. Some neighborhood residents claim the bank was so limited in it's hours and services that it was destined for failure.

Ironically, Larrone Williams, the activist leading a petition drive to reopen the bank, doesn't do his banking there. He banks somewhere else. HSBC officials say there are three other HSBC banks within a three mile radius of the former bank. They also point out that there is a Citizen's Bank, M & T Bank, and Bank of America within a couple of miles of the closed branch. It might be an inconvenience, especially for elderly customers. However, it is inconvenient for me to drive to Cheektowaga to find the nearest Arbys. They don't locate in my neighborhood because it would not be profitable for them. They're not a non profit or a charity. They make money selling low grade dog food to fat slobs like me.

Banks are businesses, too. If they were making money at the Fillmore/Glenwood location, they would not be closing it. They're probably "banking" that most of the Fillmore/Glenwood customers will stay with another HSBC bank. Like almost any other business these days, they are downsizing. Judson Price, 78, is quoted in the article as saying the neighborhood population has become sparse these days. He is a customer of the bank, but points to all the abandoned homes on nearby streets. I remember Price was shot by a neighborhood teenager years ago after he stood up to gang members. He also led the fight to bring a supermarket to the East Side (Tops). To me, he has credibility. The good news is that the University of Buffalo and HSBC appear to be trying to do something behind the scenes to utilize the location.Neighborhood with meager bank services now has none : City & Region : The Buffalo News

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